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Tds on rent applicability
if the assessee has less than Rs.1crore turnover in Fy 2017-18 but claiming less than 8% profit and for that reason getting his account audited u/s 44AB, is he liable to deduct tds on rent payment if it exceeds 1.8 lac p.a or the limit is 6 lac? please help
Replies (1)
In such case TDS u/s. 194-I is not applicable; but if rent exceed 50K PM, TDS u/s. 194IB would be applicable.
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